Zurcher Kantonalbank Zurich Cantonalbank Purchases 8,701 Shares of Badger Meter, Inc. (NYSE:BMI)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Badger Meter, Inc. (NYSE:BMI) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,971 shares of the scientific and technical instruments company’s stock after acquiring an additional 8,701 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Badger Meter were worth $19,509,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BMI. R Squared Ltd purchased a new stake in shares of Badger Meter in the 4th quarter worth approximately $28,000. Principal Securities Inc. raised its stake in Badger Meter by 2,457.1% in the fourth quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 172 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Badger Meter during the fourth quarter worth $39,000. ORG Partners LLC bought a new stake in Badger Meter during the 4th quarter valued at $42,000. Finally, Smartleaf Asset Management LLC boosted its position in Badger Meter by 261.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 597 shares of the scientific and technical instruments company’s stock valued at $128,000 after acquiring an additional 432 shares in the last quarter. 89.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on BMI. Stifel Nicolaus boosted their price target on Badger Meter from $208.00 to $209.00 and gave the stock a “hold” rating in a research report on Monday, February 3rd. Maxim Group boosted their target price on Badger Meter from $235.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $218.75.

Insider Activity

In related news, CEO Kenneth Bockhorst sold 1,165 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $212.13, for a total value of $247,131.45. Following the sale, the chief executive officer now owns 52,620 shares in the company, valued at $11,162,280.60. This represents a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP William R. A. Bergum sold 2,416 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $210.33, for a total transaction of $508,157.28. Following the completion of the transaction, the vice president now owns 14,199 shares in the company, valued at approximately $2,986,475.67. This trade represents a 14.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,949 shares of company stock valued at $4,398,407. Company insiders own 0.80% of the company’s stock.

Badger Meter Stock Down 1.2 %

BMI stock opened at $206.86 on Wednesday. The stock has a market capitalization of $6.08 billion, a PE ratio of 48.90, a price-to-earnings-growth ratio of 3.89 and a beta of 0.83. Badger Meter, Inc. has a 52 week low of $150.87 and a 52 week high of $239.11. The firm has a 50 day moving average of $212.90 and a 200 day moving average of $214.10.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Friday, January 31st. The scientific and technical instruments company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. On average, equities research analysts expect that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.36 annualized dividend and a yield of 0.66%. Badger Meter’s payout ratio is presently 32.15%.

About Badger Meter

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.